Toni:
I work in the oil industry and April 9th I was laid off as many others have been. I am 67 and my wife who is covered under my group plan is 66. My group benefits ended the next day April 10th. Making things worse, I was asked to put my personal belongings in a box and escorted to my car by company security guards.
I know there is a process that needs to be followed so my wife and I do not get a Medicare penalty. Please tell my story so that others do not get caught like I have.
~ Thanks in Advance, Michael from Memorial area
Michael:
I have been advising more concerned baby boomers on how to enroll in Medicare if someone is past 65 and have either lost their job, want to be prepared because they may lose their job or want to retire without stress.
Everyone should be prepared and aware of what paperwork they should have in their desk drawer or briefcase, just in case they get a pink slip from the HR department and have HR sign off on their way out.
When I perform a Medicare planning consultation at the Toni Says office for someone whether just laid off or retiring, I always advise them to make sure that they have the Part B in place when leaving their employment and/or group benefits. If you are not enrolled in Part B, you will not have the benefits of “B” such as doctor, outpatient surgery, etc.
The process to enroll in Part B after you have delayed you Part B and are past 65 must be done correctly.
- Call Social Security at 1/800-772-1213 and advise them that you have left your company or are retiring and need to enroll in Part B of Medicare because you had delayed it.
- You will have a “Special Enrollment Period” (SEP) that last for an 8 month period without receiving a Part B penalty. After the 8 month period that you are no longer working, you will receive a Part B penalty if you enroll in Part B and this penalty goes all the way back to the day you turn 65.
- There are 2 forms that Social Security will send you and on the top of each form written by handwriting in red letters is Special Enrollment Period for the Social Security agent that is processing them to know that you are signing up at the right time and keep from giving you a penalty. (These forms are available at the Toni Says office if you cannot locate online)
- Form #QMB No0938-0787 known as Request for Employment Information: for proof of group health care coverage based on current employment. This information is needed to process your Medicare enrollment application. If you have had 2 or more jobs since turning 65, then all companies have to sign a form.
- Form HCFA-40B known as Application for Enrollment in Medicare: this is your application for medical insurance from Medicare known as Part B. Social Security fills out this form.
Once the employment form is signed by your company, take both forms to your local Social Security office for your Medicare to begin when you have retired. You can mail your forms back to Social Security, but the wait is longer to receive your Medicare card with both Parts A and B.
Pasadena/Clear Lake Area- Confused about Medicare Workshop – Tuesday May 19th at 6:00PM-8:00PM located at 9900 Almeda Genoa, Houston, TX 77075. RSVP: 832/519-TONI (8664).
Toni King, author of the new Medicare Survival Guide® is on sale at www.tonisays.com.
For consultation in enrolling in Medicare email Toni at www.tonisays.com/ask-toni.
